Home Insurance in Austin

Getting Home Insurance in Austin

In terms of home insurance, Austin residents can expect standard policies to cover the structure of their home, their personal belongings, and liability for injuries that may occur to others while on the property. Insurance will help to repair damage to your house in case of fire or certain types of extreme weather, as well as help mitigate your losses if your home is ever burglarized or your possessions are damaged. In central Texas, tornadoes, hail, flooding, and drought-related wildfires pose the greatest natural disaster risks. However, homeowners should be aware that flood is not covered by most standard policies and must be purchased as additional coverage. This type of coverage may in fact be required if you live in an area prone to flooding.

The average premium for Texans in 2009 was $1,511. When comparing the average rates by state, Texas ranked the highest, at nearly double the national average of $880. As one of Texas’ major cities, Austin residents can expect these relatively high rates as they compare quotes online.

Factors of Home Insurance Rates in Austin

Insurance providers will factor in the size, location, and value of your home, as well as how much it would cost to repair or replace it if damaged. In addition, consideration will be given to the type of construction materials used to build the house, the electric, plumbing, and heating systems in the house, and the homeowner’s credit and desired level of coverage. Also, if you have a certain breed of dog considered high risk, a pool, or other home features that may pose a hazard to visitors, you may pay a higher premium for coverage.

Austin’s crime rates and fire protection services will also influence your average monthly cost of home insurance. According to statistics from the Federal Bureau of Investigation, Austin had 8,749 reported burglaries in 2010. However, those who take precautions, such as installing a security system, may find they are able to reduce their premium through discounts offered by their insurance company.

Robbery

Burglary

Larceny-theft

2010

1,231

8,749

34,827

2009

2,725

9,112

19,511

2008

3,308

9,989

22,499

Your home’s proximity to the nearest fire hydrant and fire station can also influence your rates. The Austin Fire Department employs 1,100 workers at 45 stations around the city. According to the department’s website, they also “contain 82% of structure fires and 92% of apartment fires to their room of origin.” Positive statistics such as these, and quick response times, can translate into more reasonable rates for home insurance in Austin.